Reuters: Legislation introduced to Strip the FED of Powers by Sen. Bunning

[FrankRep]

Fed takes heat on AIG from both sides of Congress

Reuters
Sep 17, 2008

Republican Sen. Jim Bunning of Kentucky said he was introducing legislation to strip the Fed of the authority to use taxpayer dollars on bailouts.

"Once again the Fed has put the taxpayers on the hook for billions of dollars to bail out an institution that put greed ahead of responsibility and used their good name to take risky bets that did not pay off," he said. "The only difference between what the Fed did and what Hugo Chavez is doing in Venezuela is Chavez doesn't put taxpayer dollars at risk when he takes over companies - he just takes them."

Full Story:
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1727827020080917?rpc=64


DIGG:
http://digg.com/world_news/Legislation_to_Strip_FED_of_Powers_by_Sen_Bunning?OTC-fft-8

 

[nullvalu]

Sweet. Do we have a Bill # yet?

 

[wirenut]

This would be awesome if something like this passes. We need congress to start doing there damn job.

 

[dsentell]

Go get'um Senator Bunning!!!

 

[nullvalu]

Ah hah! The bill is S.3510

http://thomas.loc.gov/cgi-bin/bdquery/D?d110:17:./temp/~bdtaz4::|/bss/d110query.html|

 

[wirenut]

We need to at least call and email our senators and get this thing to pass or we will all be on the hook for over half a trillion dollars worth of crap.

 

[nullvalu]

Just emailed my senators

ask them to co-sponser or at least support it!

 

[FrankRep]

Ah hah! The bill is S.3510

http://thomas.loc.gov/cgi-bin/bdquery/D?d110:17:./temp/~bdtaz4::|/bss/d110query.html|

From Govtrack:
http://www.govtrack.us/congress/bill.xpd?bill=s110-3510

 

[nullvalu]

are there any other senators on our side on this issue who may co-sponsor it? we need to hit them up especially hard.

 

[FrankRep]

Digg frontpage!

http://digg.com/

 

[RSLudlum]

Dugg and commented!!

Keep it up!

 

[pinkmandy]

Just sent this to mine.

Re: S.3510 introduced by Senator Bunning

When this bill comes your way as our representative, we STRONGLY URGE that you support it. Even now, we'd like to see our representatives be EXTREMELY vocal about the looting of our tax dollars to bail out corrupt institutions. Money we do not have! Has Washington lost its mind?

I'm angry. My husband is angry. Our friends are angry. I don't know a single person who isn't outraged. Let them fall. Yes, there will be serious economic repercussions but it's better than more serious ones later while we nationalize our industries. The Fed does not and should not have this power and it is the job of Congress to hold the Executive in check.

I am urging all of our ELECTED REPRESENTATIVES OF THE PEOPLE to stand up for THE PEOPLE THEY VOWED TO REPRESENT. As a member of the Republican Party of Wxxx County, I intend to attend the next meeting and bring this issue to the floor including what our representatives are/are not doing about it- from speaking out to voting. We expect fiscal conservatism and small government. Bailing out these banks is neither. I cannot believe what I'm seeing in the USA today. There is no excuse for it.

I am very, very angry. Livid actually. Now we shall see which politicians stand for the Constitution, rule of law and the people compared to which ones stand for corporate fascim, giving away our rights, and special interests.

Thank you for your time~

xxxxxxx

 

[FrankRep]

 

[RSLudlum]

^^^LOL

I love the placement of GW in the backseat.

 

[Kotin]

Senator Tom Coburn (Senate version of Dr.No) should be made aware of this...